Even Greenspan Knows We’re Screwed

In case you
missed it, Alan Greenspan just set a new world record for hypocrisy stating
that the Fed’s stimulus has had little impact on the US economy.

As a brief
reminder, it was Alan Greenspan who created both the Tech and the Housing
bubbles by maintaining loose money policies. It was also Greenspan who helped
Wall Street to dismantle regulation related derivatives, leverage, and more.

Put another
way… pretty much every single problem with the financial system today was
created or at least greatly aided by Alan Greespan and his policies. And if you
think Greenspan was just an ignorant dupe, you should consider that as early as
1999 he stated in private that derivatives could “implode” the market.

So to see
Greenspan now criticizing Bernanke’s moves is beyond astounding. Don’t get me
wrong, I’m not in any way defending Bernanke. I’m just saying that it’s odd to
see Greenspan criticizing someone who did the EXACT same things Greenspan
himself did.

Regardless,
Greenspan’s statements (he also said Greece will default) tell us quite a few
things about the Fed:

1)The
Fed is a political entity and as such politics, not economics or finance
determine its decisions

2)The
Fed is aware that it is incompetent but is beholden to the Wall Street banks

Regarding
#1, Greenspan’s sudden move to start stating the obvious, after years of
presenting rambling nonsense defending Wall Street, reveals in plain terms that
those who run the Fed are essentially political lackeys who operate on behalf
of Wall Street.They are not
regulators, nor are they actual policy makers. They are politicians who act as
front men for the big banks, presenting a friendly face for Wall Street’s
rampant greed and corruption.

Which brings
us to point #2, for Greenspan to note that the Fed’s actions have accomplished
next to nothing makes it clear, beyond any doubt, that those at the Fed are
aware that their policies are futile. Bernanke himself has even hinted at this
in a recent press conference in which he stated that the Fed didn’t understand
why the economy wasn’t improving.

The take
home point with all of this is that the Fed is in fact powerless to address,
let alone fix, the Financial Crisis that began in 2007. Indeed, the Fed’s key
role in creating it was to let Wall Street dictate the Fed’s moves. And now
that the Fed is supposed to solve the
Financial Crisis, we’re finding out not only do they have no clue how to do it,
but they’re even aware of this fact.

Which brings
me to my final point: the Financial Crisis of 2008 is NOT over. In fact, that
whole disaster was just a warm up for what’s coming down the pike. Indeed, the
Fed is fully aware that it hasn’t solved anything. All it’s done is print
money, which has made the Financial System MORE leveraged than it was during
the Tech bubble and created inflation in food and energy prices.

Folks, when
your answer to a problem is to aggressively pursue the same actions that
created the problem there’s only one thing that will come out of it…

DISASTER.

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Greenspan is clearly senile with the memory of a Goldfish... whereas Bernanke is sterile with the memory of a Goldfish... important in the CV's of Fed Chairmen so that you can't remember your last 17 predictions were all completely wrong while you deliver your next 'winner' with a dead pan serious demeanour (while all about are rolling on the floor)

...remember "downgrading our forecasts" is Fed-speak for "We're adjusting our delusional fuck up of a forecast closer to reality so we don't look so fuking delusional when reality arrives"

BTW, "StealthStocks.com" sees a possible collapse at the end of January, February, March, April, May, June, July or next month, August, or by the end of the year if the ad has the suit dummy's picture.

The Fed is not a political entity per se. It is a private bank owned by the world's elite. It just so happens these very people run government policy as well, so it's not a stretch to say the Fed/US Government is a marriage made in hell.

One cannot exist without the other, until Congress takes back its Constitutional duty to coin its own money.

Alan Greenspan is totally blameless for all the Feds mistakes. I heard it on MSNBC from Andrea Mitchell. That Andrea Mitchell is married to Alan Greenspan in no way affects her reporting!...............but he's a DICK!

In case you missed it, Alan Greenspan just set a new world record for hypocrisy stating that the Fed’s stimulus has had little impact on the US economy.

Part of Greenspan's job is to maintaing the lie that the FED is looking out for the US economy. The FED looks out for the biggest banks and does what is good for them. By talking about the FED and the economy in the same sentance, GreenSpan is doing his job of word association. Why do you think the FED has a dual mandate?? The dual mandate gives them more flexibility to help the biggest banks. Think about it, with a single mandate, high inflation would require raising of rates. period. With a dual mandate, the FED can continue to pump money into the Fat Cats in the face of high inflation and ration it as "trying to help the economy".

It's only hypocrisy if one is dumb enough to believe what he implies. What he says, on the other hand, is just as you point out, word association (and nothing more). He certainly is a true Maestro, in meaningless sophistry.

It's interesting how much meaning a listener can add merely through their own beliefs. As a speaker, if you truly know your audience, you can tell them everything they want to hear without formulating a single idea in your speech.

I am sick of this infomercial week-in, week-out...Big Al gave us a RIP-ROARING trade in commodities as did Bennie and it made me a fortune even since 2009! Even all of my trashed juniors from 2007-2008 hit record highs in 2010-2011! I thank Benji and Al for the money-printing exercises that lifted the CRB and long for QEIII's beginning!